Latviski English По-русски
Friday 18.01.2019 | Name days: Antis, Antons

Inflation in Latvia reached 2.6% in July

(No Ratings Yet)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUCompared to July 2017, the average level of consumer price rose by 2.6 % in July 2018.  Prices of goods grew by 2.4 % and prices of services by 3.2 %.

In July 2018, as compared to 2015, consumer prices have risen by 5.6 %. Prices of goods have increased by 3.9 % and prices of services by 9.9 %.

Also when compared to July 2017, the average level of consumer prices was mainly influenced by the rise in prices of goods and services related to transport, goods and services related to housing, alcoholic beverages and tobacco products, prices in miscellaneous goods and services group, prices of health care, as well as drop in prices of food and non-alcoholic beverages in July 2018, according to data from the Central Statistical Bureau of Latvia.

Within the group of food and non-alcoholic beverages, the greatest downward pressure on the price changes during the year was exerted by prices of vegetables (reduction of 11.5 %).  Decline was also observed in the prices of sugar (of 35.0 %), fresh fruit (7.9 %), coffee (8.0 %), dried, salted or smoked meat (1.7 %), chocolate (5.0 %), flours and other cereals (6.3 %), and vegetable oil (5.5 %). Increase, in its turn, was recorded in prices of milk (of 7.0 %) and dairy products like butter (18.6 %), sour cream (7.1 %), cheese and curd (+3.0 %), as well as kefir (8.4 %). Rise was also observed in prices of poultry (5.2 %), fruit and vegetable juices (8.8 %), bakery products (2.7 %), bread (2.0 %), and eggs (7.4 %).

The average level of prices of alcoholic beverages and tobacco products went up by 4.2 %. Prices of alcoholic beverages grew by 3.4 %, which was mainly influenced by the rise in prices of spirits and wine. Prices of tobacco products grew on average by 5.6 %.

Prices of goods and services related to housing increased by 4.6 %. An upturn was registered in prices of solid fuels, heat energy, natural gas, water supply, maintenance charges in multi-occupied buildings, as well as refuse collection.

Within the health care group, the average level of prices went up by 2.9 %. Increase was recorded in prices of dental services and prices in medical specialist practice, as well as prices of pharmaceutical products.

The main upward pressure within the group of goods and services related to transport was applied by prices of fuels for transport (of 20.8 %), of which prices of diesel grew by 24.2 %, of petrol by 18.5 %, and of auto gas by 7.2 %. Increase was also recorded in prices of maintenance and repair of personal transport equipment, while prices of second-hand motor cars fell.

Within the group of miscellaneous goods and services, the average level of prices grew by 3.4 %, which was mostly influenced by the rise in prices of motor vehicle insurance. Rise was also recorded in prices of hairdressing salons and personal grooming establishment services, financial services. Decline, in its turn, was registered in prices of articles for personal hygiene and beauty products.

Among other commodity groups, the most significant growth was recorded in prices of catering services, garments, television subscription fee, and telecommunication services. In its turn, a drop was observed in prices of package holidays, as well as household cleaning and maintenance products.

Compared to June, the average level of consumer prices decreased by 0.8 % in July 2018. Prices of goods fell by 1.3 %, while prices of services rose by 0.4 %. Decline in prices of clothing and footwear, food and non-alcoholic beverages, alcoholic beverages and tobacco products had the greatest lowering impact, while prices of goods and services related to housing, goods and services related to recreation and culture had the most important upward effect.

Over the month, prices of food and non-alcoholic beverages dropped by 1.2 %. Prices of fresh vegetables (drop of 14.3 %) had the strongest lowering influence on the average price level within the group. Decline was registered in prices of coffee (of 3.8 %), eggs (4.7%), cheese and curd (2.1 %), fresh fruit (2.1 %), as well as dried, salted or smoked meat (0.9 %). Rise, in turn, was recorded in prices of butter (of 7.8 %), potatoes (6.8 %), fresh and chilled fish (8.1 %), poultry (1.5 %), and pasta products (6.4 %).

The average level of alcoholic beverage and tobacco product prices fell by 0.4 %. Prices of alcoholic beverages dropped by 0.8 %, which was mainly influenced by the decline in prices of beer and wine. As the excise duty rose as of 1 July 2018, prices of tobacco products went up by 0.2 %.

Mainly due to the influence exerted by discounts, prices of garments fell by 9.3 % and of footwear by 11.6 %.

Prices of housing goods and services increased by 0.5 %. Rise was recorded in the average level of natural gas and heat energy prices, as well as rentals for housing. As the new mandatory procurement and capacity components came into force as of 1 July, the average level of electricity prices dropped.

Within the recreation and culture group, the average level of prices rose by 0.4 %, which was mainly affected by the 5.9 % increase in prices of package holidays. Prices of pet foot rose as well. In its turn, the average level of fiction book and flower prices reduced.

Among other commodity groups, the most notable decline was registered in prices of articles for personal hygiene and beauty products, second-hand motor cars, as well as household cleaning and maintenance products. Rise was observed in prices of passenger transport by sea.

Leave a reply

Lithuania’s ruling majority swings at media freedom, experts warn

All media, the so-called fourth authority of power, has been facing some international challenges, with the European Parliament set to vote next Monday on final text of Article 13, the proposed EU directive on copyright, which, if implemented, could censor internet users and internet platform hosts through artificial intelligence-employing filters.

Riga Active Seniors Alliance: seniors’ behaviour on the road should be discussed

Riga Active Seniors Alliance supports Latvian State Police informative safety campaign that addresses the behaviour of pedestrians on the road. This campaign invites seniors to pay attention to their own behaviour to ensure safe movement without putting at risk other traffic participants.

New healthcare service principle’s adoption in Latvia postponed until July

The rights to receive healthcare services as part of state compulsory healthcare regardless of their health insurance contributions will remain available for residents until 30 June 2019, Latvian Saeima has decided.

150 jobs lost in Estonia as polluting power stations reduce operations

Estonian state energy giant Eesti Energia, which mostly generates energy from fossile oil shale plants will reduce its operations at the Narva power plants, resulting in 150 job cuts.

Opinion: Russia will definitely interfere with European Parliament elections

According to Latvian member of the European Parliament Inese Vaidere, Russia will definitely attempt to interfere with upcoming European Parliament elections.

In no-deal Brexit, border control in Ireland would be obligatory

In an interview with the British news portal The Guardian, Michael Lux, a former head of customs legislation and procedures at the European commission, said the UK would have to impose customs checks and tariffs on the northern side of the border, despite claims to the contrary by Brexiters.

Opinion: Daugavpils City Council doesn’t want emergency elections; to agree on new mayor

Daugavpils City Council deputies Rihards Eigims and Andrejs Elksniņš are afraid of voters’ opinion in regards to emergency elections. Because of that, they will agree on the next mayoral candidate at the 17 January meeting, said Latgale party representative Jānis Lāčplēsis.

Scientists suggest sustainable diet to save the planet and prevent premature deaths

An international group of 37 scientists has developed a diet that promises to save lives, feed 10 billion people and all without causing catastrophic damage to the planet.

Latvian parties taking too long on compiling government cooperation documents

Although work on the new government’s cooperation documents has taken more time than initially expected, Latvian prime minister candidate Krišjānis Kariņš still hopes for the government to be approved next week.

Ministry: more children end up in families in Latvia not through foster families or guardians

More and more children in Latvia end up in families not through adoption, but through foster families or guardians, says Welfare Minister’s office manager Linda Baļčūne.

Estonian population continues to increase, mostly due to immigration

Estonia has registered population growth for the third consecutive year as 4,690 more persons lived in the Baltic country on January 1, 2019 than a year before, official statistics show.

Sweden to nominate head of government, who could finally be confirmed

In the Swedish parliament, three parties have stated they would not vote against caretaking Prime Minister Stefan Löfven to have another attempt to form a center-left government after a four-month political crisis.

In 2018 Latvia experienced more rapid growth of car registrations than EU

Last year the number of newly registered cars in Latvia was higher than the average in the European Union, according to the latest data from European Automobile Manufacturers' Association.

Latvian government prepares legislation to protect rights of Latvian in Britain after Brexit

Latvian government has started working on a document that provides for the protection of rights of Latvian citizens working in Britain and vice versa after Brexit, says Latvian Foreign Affairs Minister Edgars Rinkēvičs.

Karolis Sankovski appointed as chairman of RB Rail council

A new council chairman has been appointed in Baltic joint company RB Rail. Riia Sillave and Edvīns Bērziņš were picked as vice-chairmen, as the company reports.

airBaltic carried record number of passengers in 2018 – 4.1 million

Latvian airBaltic airline carried a total of 4,136,711 passengers to different destinations in 2018. This is 17% more when compared to 2017. The number of passengers carried in 2018 is airBaltic’s all-time highest, as BNN was told by the company.

KPV LV to decide on dismissing Kaimiņš as vice-chairman of party’s faction

KPV LV party’s Saeima faction plans to discuss the proposal of dismissing Artuss Kaimiņš from the post of the faction’s vice-chairman.

Latvian minister sceptical about abolishing MPC system without litigations

Latvia’s Economy Minister Arvils Ašeradens does not expect abolishment of the mandatory procurement component system this year to pass without litigations.

Latvian parties agree on 90% of content of coalition cooperation agreement

Parties of the forming coalition move towards a cooperation model in which matters are resolved based on the principle of consensus, says prime minister candidate Krišjānis Kariņš from New Unity.

What do Britons actually want? Reactions from EU politicians

Commenting on the rejected deal of UK withdrawal, leaders of the European Union and member states, which are British neighbours, are seeking clarity over the exit scenario London would prefer if the British really want to leave.

Ministry fails to coordinate decision regarding Riga City Council’s dismissal

On Tuesday, 15 January, Latvia’s Environment Protection and Regional Development Ministry failed to coordinate the latest redaction of the decision project On the Dismissal of Riga City Council, because the Latvian Association of Local and Regional Governments and Latvian Association of Large Cities objected it.

UK rejects Brexit deal, May faces no-confidence vote

British Prime Minister Theresea May hopes to overcome a vote of no confidence in her government, following the rejection of her Brexit deal in the UK Parliament.

Is polygamy the answer for Latvia? «Demographic affairs expert» Parādnieks is the man for the job!

The government formation process in Latvia is progressing slowly and painfully. It is as though a ship without navigation – Latvia has yet to find its way in the ocean of political roads. And this ocean I full of «icebergs» Latvia keeps bumping against. The latest one is National Alliance’s official candidate, an «expert» at resolving demographic problems Imants Parādnieks.

Latvian government approves unified requirements for road and street construction quality

On Tuesday, 15 January, Latvian government approved a project of rules from the Cabinet of Ministers. The goal of this project is ensuring rational use of public funds for road and street construction.

Strike in German airports cancels hundreds of flights

Several hundred flights have been cancelled in German airports on January 15, because of strike as part of an airport worker wage dispute. Germany's powerful Verdi union has announced the strike would last from 02:00 am until 8:00 pm local time at the airports of Frankfurt, Munich, Hanover, Bremen, Hamburg, Leipzig, Dresden and Erfurt.